International Business Machines Corp. is buying a 20 percent stake in SIX, the technology unit of Brazilian billionaire Eike Batista, Veja reported in its Radar online column, without saying where it obtained the information.
IBM has also agreed on a contract worth $1 billion to provide services to Batista’s company for 10 years, Veja said. Batista, who has a memorandum of understanding signed with IBM last year, will announce the agreement soon, the magazine said.
A spokeswoman for IBM in Sao Paulo declined to comment on the report when contacted by Bloomberg News today. A media official at EBX Group Co., the holding company for most of Batista’s assets, didn’t have an immediate comment when contacted by Bloomberg News today.